Newmont (NEM) to Release Quarterly Earnings on Wednesday

Newmont (NYSE:NEM) is anticipated to release its earnings data after the market closes on Wednesday, April 23rd. Analysts expect Newmont to post earnings of $0.71 per share and revenue of $4.82 billion for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Newmont (NYSE:NEM) last announced its quarterly earnings data on Thursday, February 20th. The basic materials company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.29. Newmont had a return on equity of 13.52% and a net margin of 17.92%. The business had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.32 billion. On average, analysts expect Newmont to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Newmont Stock Down 0.4 %

Shares of NYSE:NEM opened at $54.55 on Wednesday. Newmont has a 52 week low of $36.60 and a 52 week high of $58.72. The company has a market capitalization of $61.49 billion, a PE ratio of 18.62, a PEG ratio of 0.41 and a beta of 0.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.73 and a current ratio of 1.96. The company has a 50 day moving average price of $46.56 and a two-hundred day moving average price of $45.04.

Newmont Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.83%. The ex-dividend date of this dividend was Tuesday, March 4th. Newmont’s dividend payout ratio (DPR) is presently 34.13%.

Wall Street Analyst Weigh In

NEM has been the subject of several recent analyst reports. The Goldman Sachs Group initiated coverage on Newmont in a report on Monday, January 13th. They issued a “buy” rating and a $47.20 price objective for the company. TD Securities reduced their price target on Newmont from $46.00 to $45.00 and set a “hold” rating for the company in a research note on Wednesday, February 26th. StockNews.com raised shares of Newmont from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Scotiabank cut their target price on Newmont from $52.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada increased their price target on shares of Newmont from $51.00 to $52.00 and gave the stock a “sector perform” rating in a research report on Friday, April 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Newmont has a consensus rating of “Moderate Buy” and a consensus target price of $54.55.

Insiders Place Their Bets

In other news, Director Bruce R. Brook sold 2,077 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $43.71, for a total transaction of $90,785.67. Following the transaction, the director now directly owns 47,916 shares in the company, valued at $2,094,408.36. The trade was a 4.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Peter Toth sold 3,000 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $43.71, for a total value of $131,130.00. Following the completion of the transaction, the executive vice president now directly owns 86,526 shares in the company, valued at approximately $3,782,051.46. This trade represents a 3.35 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,154 shares of company stock valued at $825,678. 0.05% of the stock is owned by insiders.

Hedge Funds Weigh In On Newmont

An institutional investor recently raised its position in Newmont stock. Brighton Jones LLC increased its stake in shares of Newmont Co. (NYSE:NEM) by 15.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,606 shares of the basic materials company’s stock after buying an additional 1,847 shares during the period. Brighton Jones LLC’s holdings in Newmont were worth $506,000 as of its most recent filing with the Securities and Exchange Commission. 68.85% of the stock is currently owned by institutional investors and hedge funds.

About Newmont

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.